Word: anacondas
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...years Anaconda Co. was the press lord of Montana, owning seven dailies* in five of the state's major cities. Last week Anaconda's Board Chairman Clyde Weed announced that the company aimed to sell all seven papers. Behind the decision is the story of how Anaconda bought newspapers to consolidate its hold on Montana, came to discover that they were doing the company more harm than good...
...ironfisted, copperplated propaganda sheets in its successful fight for supremacy. In the '20s, when the company began to fret that its papers were furthering its image as a monopolist, it toned them down, tried to shape the news more by selecting than slanting or denouncing. Events harmful to Anaconda were either ignored or downplayed ; the papers even began to avoid all local controversies...
...Anaconda could not overcome its reputation. Suspicious Montana readers automatically looked for the "copper collar" riveted around every story. Ironically, the policy of playing down company news prevented Anaconda from playing up its notable contributions to the state in its earnest postwar campaign to win friends, e.g., the $400,000 employees' club given to Butte. Circulation grew slowly; last year Anaconda's papers netted a paltry...
...electric ranges. Much of the buying was for new houses; builders reported new residential contracts for $1,021,516,000 in January, up 32% from January 1958. With the faster pace, supplies of raw materials grew thinner as manufacturers hedged against possible strikes. The three major copper producers. Anaconda, Kennecott and Phelps Dodge, hiked copper 1½? per Ib. to 31½?, highest price in 21 months. And steelmakers set a rate of 89.5% of rated capacity, said shipments were still far behind orders...
QUARTERLY EARNINGS 1st 2nd (in millions) METALS Aluminium Ltd. $ 5.3 5.1 Anaconda 6.1 4.6 OILS Amerada 5.6 4.3 Getty Oil 7.1 .9 AIRCRAFTS United Aircraft 11.5 10.8 General Dynamics 9.9 10.2 MISC...